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Overview
African entrepreneurs have the solutions to Africa’s problems.
Global funding is in flux, and investing in them has never been this urgent.
With AMI-supported businesses creating 25,000+ jobs in 2024, with 85% of direct jobs for women, it’s clear - building enterprise is the most effective way to address the jobs crisis and improve livelihoods
Africa’s entrepreneurs are investing in themselves to keep growing through global uncertainty. We must match their ambition with our support. From livelihood generators to industry-shaping scale-ups, no entrepreneur can be left behind.
Our key learnings from 2024
1. Growth = Jobs = Impact
Evidence-backed business support works. It works for growth, for jobs, and for communities. And it can work at scale. Businesses supported by AMI grew 17% in 2024 and increased jobs by 18%.
The 3 year CAGR is 16.8%
2. SME growth is a big bet for livelihoods
Supporting businesses to grow is the most effective way to drive African prosperity in an uncertain global environment . For every $1 invested in AMI programmes, $9.85 flows to employees. 85% of jobs created were for women
3. Entrepreneurs are investing in themselves
Africa’s entrepreneurs aren’t waiting for change, they’re building it. 259 founders — (228 enrolled in Aspire with Stanford SEED and 31 in Grow Your Business) contributed to their own programme costs, putting $71,965 behind their belief that true growth comes from knowledge, not luck.
4. Youth and women are leading the way
Evidence-backed business support works. It works for growth, for jobs, and for communities. And it can work at scale. Businesses supported by AMI grew 17% in 2024 and increased jobs by 18%.
The 3 year CAGR is 16.8%
5. Every entrepreneur. Every dream.
Supporting businesses to grow is the most effective way to drive African prosperity in an uncertain global environment . For every $1 invested in AMI programmes, $9.85 flows to employees. 85% of jobs created were for women
6. Systems innovation for the last mile
Africa’s entrepreneurs aren’t waiting for change, they’re building it. 259 founders — (228 enrolled in Aspire with Stanford SEED and 31 in Grow Your Business) contributed to their own programme costs, putting $71,965 behind their belief that true growth comes from knowledge, not luck.
7. Beyond the founder
Long-term success depends on leadership development at all levels. In 2024, we trained 4035 managers, leaders and high potential young people to drive organisational competitiveness and transform practice and policy in critical sectors.
‘I chose to grow’
Wanjiku Ng'ethe,
Founder Karen Fruits & Veges
Investing in business champions at every level
To address the jobs crisis, we need thriving businesses and people at every level - from rural nano businesses to resilient SMEs to industry-shaping scaleups and corporate titans. That's why we've developed a tailored and data-driven approach to business and human capital support that equips leaders and their teams to achieve their dreams, drive progress and create jobs, no matter their size.
create the most jobs, and Africa has too few of them. Human capital is a critical challenge for businesses aiming to compete at a regional, continental and global level. Our Enterprise division works with hundreds of these larger businesses - on a purely commercial basis - to train their teams, strengthen leadership and management, and drive performance for large scale impact and job creation.
businesses create the largest numbers of absolute jobs, and with the right support can become regional and sector champions.
businesses are the engine of our economies.
Our data shows that supporting nano and micro businesses drives resilience and protects jobs in the most fragile businesses - and we regularly see job-creating champions emerge from this segment, with those in the top 20% creating almost 5 jobs each - a huge increase from a small base.
Doubling down on the champions
The Top 20% of performers of businesses in programmes:
Created
of the jobs
81%
DOUBLED
their jobs
66%
increase in revenue
on avg. per business
44.4%
accessed finance
at an average ticket size of $47,500
‘I chose to grow’
The Grow Your Business (GYB) programme pushed me to face tough truths about my business, from poor planning to staff issues. But it also gave me practical tools to turn things around. I became more organised, improved accountability, and learned how to motivate my team. Since then, our revenue has grown by over 84% and we’ve hired a young team member for fulfilment.
Wanjiku Ng'ethe,
Founder Karen Fruits & Veges
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Read the report
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